Samindo Resources Working on Renewable Energy Business, Jakarta: PT Samindo Resources Tbk (MYOH) is expanding into renewable energy projects. Samindo is targeting a 100 megawatt (MW) Solar Power Plant (MW) project. In this project, the company will collaborate with company from South Korea.

In this case, the company immediately took part when there was a tender from PT Perusahaan Listrik Negara (Persero) some time ago. The step is expected to contribute positively to the availability of energy in the country.

Samindo Resources President Director Kim Jung Gyun said we wants to diversify the business. According to him, Samindo's efforts to enter the renewable energy generation sector are in line with Samindo's business diversification strategy.

"So far revenue is still dominated by business contracts from sister company," he said, in his written statement, in Jakarta, Friday, July 28, 2017

Samindo believes that the opportunity to utilize renewable energy in Indonesia is very good and slowly the issue of project economy value will decrease. Samindo sees the Government of Indonesia committed to developing renewable energy. Therefore, this sector has great potential for cultivation.

This year, we re-submitted three PLTS projects in Sumatra. The three project tenders are called packages 2, 3 and 5. For package 2 it is 35 MW in North Sumatra, package 3 of 33 MW in Riau and Bangka Belitung and package 5 South Sumatera and Jambi at 28 MW. In the development of PLTS, the funding requirement for USD1 million per MW.

In addition, the company also plans to participate in the tender of PLTG. Samindo's energy business in Indonesia is still in its infancy. The Company continues to prepare it from now on. So when business will be booming will be utilized larger.